Consumer
Nestle Chairman Says CEO Change Was Prompted By Growth Concerns
- Former leader Schneider removed this week after eight years
- Bulcke says mergers aren’t the heart of Nestle’s strategy
The Nestle SA headquarters in Vevey, Switzerland.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
The abrupt replacement of Nestle SA’s chief executive officer was prompted by worries over the food and beverage company’s growth outlook, Chairman Paul Bulcke told Swiss newspaper Le Temps.
“We looked at the market share development and asked ourselves whether the group’s growth engine and operational execution were still working perfectly,” Bulcke said in an interview published on Saturday. “There were difficult times with Covid, geopolitical issues, inflation. We had to act quickly.”